Well, if words can break the market, maybe they can fix it as well. You know all that doom and gloom stuff BO has been talking? Well, never mind. Today, BO says to forget all that. Follow the link, read, relax, and enjoy. Have a drink. Heck, might as well polish off the whole fifth, if you can still afford one.
The president predicted that Americans' consumer confidence would improve as they see the stimulus bill "taking root."
Taking root? Well, money is like kudzu, you know. It grows on trees. At least when you're harvesting other people's money.
What you're now seeing is ... profit and earning ratios are starting to get to the point where buying stocks is a potentially good deal if you've got a long-term perspective on it," the president said on a day that trading continued to hover under 7,000.Long-term? Like, after more investors have been coaxed back into the market by all the higher taxes and class warfare rhetoric? And deficits that are zooming past the moons of Jupiter? Yeah, well, while you're holding your breath waiting for that to happen, I have other ideas. I'm going to take all my money out of the market and invest in a new invention I call the portfoldingchair -- part portfolio, part folding chair. It's not very comfortable in the long position, but you should watch it collapse.
Businesses are starting to see opportunities for investment and potential hiring," he said. "We are going to start creating jobs again.
Wow, that's good news, at least for India and China.
Asked about the troubles of the stock market, seeming to reflect investor insecurity about the Obama administration's economic plans, the president said he was "absolutely confident that they will work, and I'm absolutely confident that credit's going to be flowing again, that businesses are going to start seeing opportunities for investment, they're going to start hiring again. People are going to be put back to work."Unfortunately, it's not BO's confidence that needs to be bolstered at the moment. He seems to have plenty of it. I'm more worried about the investors, who right now are more interested in sheltering what money they have left. BO, it would appear, needs to learn that when the President of the United States talks like a dorm-room Bolshevik, some people actually listen to him and take him at his word.
Obama said he wasn't focused on "the day-to-day gyrations of the stock market, but the long-term ability for the United States and the entire world economy to regain its footing."
Gyrations? Sorry, no.
Here's what a gyration looks like:
This, on the other hand, is what we call a trend...